Introduction: On February 12, 2024, a historic moment unfolded as the Hon’ble Prime Minister of India, Shri Narendra Modi, along with counterparts from Mauritius and Sri Lanka, inaugurated the RuPay cards and Unified Payments Interface (UPI) connectivity between the nations. The Reserve Bank of India Governor, Shri Shaktikanta Das, played a pivotal role, alongside counterparts from Mauritius and Sri Lanka.
Enhanced Travel Payments: The connectivity allows Indian travelers in Mauritius and Sri Lanka to make seamless UPI payments. Conversely, Mauritian travelers can utilize the Instant Payment System (IPS) app for transactions in India. The adoption of RuPay technology in Mauritius marks a significant milestone, making it the first country outside Asia to issue RuPay cards. These cards can be utilized locally and in India, providing convenience for cross-border transactions.
Digital Payments Connectivity with Sri Lanka: The collaboration extends to Sri Lanka, where Indian travelers can now make QR code-based payments at various merchant locations using UPI apps. This move not only simplifies transactions but also promotes digital payment methods, aligning with the global trend towards cashless economies.
Execution by NPCI International Payments Limited (NIPL): The projects were developed and executed by NPCI International Payments Limited (NIPL) in collaboration with partner banks and non-banks from Mauritius and Sri Lanka. The support of the Reserve Bank of India, Bank of Mauritius, and Central Bank of Sri Lanka played a crucial role in making these advancements possible. Operational through select banks, non-banks, and Third-Party Application Providers, these facilities are set to be scaled up for broader accessibility.
Conclusion: The launch of RuPay cards and UPI connectivity signifies a significant step in deepening financial integration between India, Mauritius, and Sri Lanka. The collaboration not only enhances travel payments but also strengthens the historical, cultural, and economic ties shared by these nations. The Reserve Bank of India’s proactive role in facilitating these advancements reflects a commitment to fostering technological progress and financial inclusion.
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Reserve Bank of India
February 12, 2024
Honorable Prime Minister of India, Honorable Prime Minister of Mauritius and Honorable President of Sri Lanka witnessed the launch of India’s RuPay / UPI connectivity with Mauritius and Sri Lanka
Hon’ble Prime Minister of India, Shri Narendra Modi, Hon’ble Prime Minister of Mauritius, Mr. Pravind Kumar Jugnauth, and Hon’ble President of Sri Lanka Mr. Ranil Wickremesinghe today witnessed the virtual launch of RuPay cards and Unified Payments Interface (UPI) connectivity between India and Mauritius, as well as UPI connectivity between India and Sri Lanka. Reserve Bank of India Governor, Shri Shaktikanta Das, Bank of Mauritius Governor, Mr. Harvesh Seegolam, and Central Bank of Sri Lanka Governor, Dr. P. Nandalal Weerasinghe were also present on the occasion.
2. With this connectivity, an Indian traveler to Mauritius will be able to pay a merchant in Mauritius using UPI. Similarly, a Mauritian traveller will be able to do the same in India using the Instant Payment System (IPS) app of Mauritius. Further, with the adoption of RuPay technology, the MauCAS card scheme of Mauritius will enable banks in Mauritius to issue RuPay cards domestically. Such cards can be used at ATMs and PoS terminals locally in Mauritius as well as in India. With this, Mauritius becomes the first country outside Asia to issue cards using RuPay technology. Indian RuPay cards would also be accepted at ATMs and PoS terminals in Mauritius.
3. The digital payments connectivity with Sri Lanka will enable Indian travelers to make QR code-based payments at merchant locations in Sri Lanka using their UPI apps.
4. These projects have been developed and executed by NPCI International Payments Limited (NIPL) along with partner banks / non-banks from Mauritius and Sri Lanka, under the guidance and support of Reserve Bank of India. The Bank of Mauritius and the Central Bank of Sri Lanka have also played an important role in making these possible. The above facilities have been made operational through select banks / non-banks / Third Party Application Providers in India, Mauritius and Sri Lanka. Going forward, these facilities will be scaled up.
5. The collaborations on India’s digital payments connectivity with Mauritius and Sri Lanka through UPI and RuPay will deepen financial integration and strengthen the long historical, cultural, and economic relations of India with Mauritius and Sri Lanka.
(Yogesh Dayal)
Chief General Manage
Press Release: 2023-2024/1858
